Allana Potash Appoints Dr. Mark D. Stauffer, Ph.D., P.Ag, as Independent Chairman of the Board
TORONTO, ONTARIO -- (Marketwire) -- 08/10/11 -- Allana Potash Corp. (TSX VENTURE: AAA)(OTCQX: ALLRF) ('Allana' or the 'Company') is pleased to announce the appointment of Dr. Mark D. Stauffer, Ph.D. and P.Ag. to the position of Independent Chairman of the Board of Directors. Dr. Stauffer, now retired, is the former President of the Potash and Phosphate Institute of Canada ('PPIC'), and former Senior Vice President of International Programs, at the Potash and Phosphate Institute ('PPI', now the International Plant Nutrition Institute).
Dr. Stauffer has a long and productive career in agriculture development and the fertilizer business. He has worked in both the public and private sectors in research, education and chemical production and sales. In 1988, Dr. Stauffer became a regional director of PPI and PPIC and in 1994 was promoted to the position of Vice President, International Programs at PPI and became the President of PPIC. During his tenure as President of PPIC, Dr. Stauffer coordinated PPIC's seven international research and education based potash and phosphate market development programs throughout Asia and Latin America. Dr. Stauffer has lectured on the role of potash and phosphate in increasing food production and the role of balanced fertilizer practices in maximizing crop yield and income opportunities for the farming community.
Dr. Stauffer obtained his B.Sc. (Agriculture) and M.Sc. from the University of Guelph and obtained his Ph.D. in Agronomy from the Virginia Polytechnic Institute & State University. He currently serves on the board of Migao Corporation, a specialty fertilizer producer listed on the Toronto Stock Exchange.
Farhad Abasov, President and CEO, commented: 'We are very pleased to welcome Mark to his new role as Chairman of Allana. The appointment of an independent Chairman comes at a time when Allana is applying to graduate to the Toronto Stock Exchange. Mark's advice and guidance to Allana's management in our interactions with various strategic partners, including large fertilizer companies, has been critical. The Company feels that the appointment is an important step to achieving a more independent operation, while it continues to move the project to the Feasibility Study and advance the Dallol Project towards production.'
About Allana Potash Corp.
Allana is a publicly traded corporation with a focus on the acquisition and development of potash assets internationally with its major focus on a previously explored potash property in Ethiopia. Allana has secured financial support from two significant strategic investors: IFC, a member of the World Bank Group, and Liberty Metals and Mining Holdings, LLC, a subsidiary of Liberty Mutual Group. Allana has Measured and Indicated Sylvinite Resources of 97.8 M Tonnes of 30.0% KCl; Inferred Sylvinite Resource of 108.3 M tonnes grading 31.3% KCl; Measured and Indicated Kainitite Resources of 284.2 M tonnes at 19.8%, Inferred Kainitite Resource of 271.2 M tonnes of 20.3% KCl; Measured and Indicated Upper Carnallitite Resources of 78.5 M tonnes grading 18.4% KCl, Inferred Upper Carnallitite Resource of 85.6 M tonnes of 17.1% KCl; Measured and Indicated Lower Carnallitite Resources of 212.6 M tonnes of 12.0% KCl, Inferred Lower Carnallitite Resource of 130.7 M tonnes grading 11.7% KCl. Allana has approximately 196.5 million shares outstanding and trades on the TSX-Venture Exchange under the symbol 'AAA'.
Peter J. MacLean, Ph.D., P. Geo., Allana's Senior VP Exploration, is a Qualified Person as defined under National Instrument 43-101 and has reviewed and approved the technical information presented in this release.
Forward-Looking Statement
Except for statements of historical fact relating to the Company, certain information contained herein constitutes 'forward-looking information' under Canadian securities legislation. Forward-looking information includes, but is not limited to, statements with respect to the effect of the appointment on the Company, the likelihood and timing of a TSX listing, drill and assay results, the estimation of mineral reserves and mineral resources; the timing and amount of estimated future exploration; costs of exploration; capital expenditures; success of exploration activities; permitting time lines and permitting, ; government regulation of mining operations; environmental risks; unanticipated reclamation expenses; and title disputes or claims; Generally, forward-looking information can be identified by the use of forward-looking terminology such as 'plans', 'expects' or 'does not expect', 'is expected', 'budget', 'scheduled', 'estimates', 'forecasts', 'intends', 'anticipates' or 'does not anticipate', or 'believes', or variations of such words and phrases or statements that certain actions, events or results 'may', 'could', 'would', 'might' or 'will be taken', 'occur' or 'be achieved'. Forward-looking statements are based on the opinions and estimates of management as of the date such statements are made and they are subject to known and unknown risks, uncertainties and other factors that may cause the actual results, level of activity, performance or achievements of the Company to be materially different from those expressed or implied by such forward-looking statements or forward-looking information. Although management of the Company has attempted to identify important factors that could cause actual results to differ materially from those contained in forward-looking statements or forward-looking information, there may be other factors that cause results not to be as anticipated, estimated or intended. There can be no assurance that such statements will prove to be accurate, as actual results and future events could differ materially from those anticipated in such statements. Accordingly, readers should not place undue reliance on forward-looking statements and forward-looking information. The Company does not undertake to update any forward-looking statements or forward-looking information that are incorporated by reference herein, except in accordance with applicable securities laws.
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Contacts:
Investor Cubed
Christian Scovenna
647 258 3311
info@investor3.ca